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E-Mini S&P Trading at Fresh Multi-Month High

EQUITIES

A bullish theme in Eurostoxx 50 futures remains intact and the contract traded to a fresh trend high Tuesday. This confirms once again a resumption of the uptrend and maintains a bullish price sequence of higher highs and higher lows. Moving average studies are in a bull-mode position too, signalling a rising cycle. The focus is on 4608.00, the Jun 2007 high and a key resistance. Support to watch is at 4411.50, the 20-day EMA. A bullish theme in S&P e-minis remains intact and the contract has traded to a fresh high this week. The break higher confirms once again a resumption of the uptrend and maintains the bullish price sequence of higher highs and higher lows. Note too that moving average studies are in a bull-mode position, highlighting positive market sentiment. Sights are on 4738.50, the Jul 27 high and a key resistance. Initial support is 4602.23, the 20-day EMA.


  • Japan's NIKKEI closed higher by 82.65 pts or +0.25% at 32926.35 and the TOPIX ended 1.76 pts higher or +0.07% at 2354.92.
  • Elsewhere, in China the SHANGHAI closed lower by 34.678 pts or -1.15% at 2968.76 and the HANG SENG ended 145.75 pts lower or -0.89% at 16228.75.
  • Across Europe, Germany's DAX trades higher by 25.2 pts or +0.15% at 16817.77, FTSE 100 higher by 19.27 pts or +0.26% at 7562.11, CAC 40 up 26.31 pts or +0.35% at 7569.7 and Euro Stoxx 50 up 11.7 pts or +0.26% at 4548.05.
  • Dow Jones mini up 53 pts or +0.14% at 36658, S&P 500 mini up 6.5 pts or +0.14% at 4652.5, NASDAQ mini up 30.25 pts or +0.18% at 16391.5.
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